Bangkok, 5 July 2019 – SEC Secretary-General Ruenvadee Suwanmongkol has announced that the SEC Board, at its monthly meeting held on July 4, approved in principle the supervision of two additional digital asset businesses, i.e., digital asset advisory service and digital asset fund manager.
SEC Board’s approval of the principles for supervising additional digital asset
businesses would not only benefit securities companies that have recently
showed their growing interest in offering digital asset advisory service and/or
acting as digital asset fund manager to provide alternative investment choices
for investors, but also support careful monitoring of persons giving advisory
service and soliciting the public to invest in digital assets, which may be
liable to fraud and cause damage to the public.
to the Royal Decree on Digital Asset Businesses B.E. 2561 (2018), the scope of
digital asset business currently covers only digital asset exchange, digital
asset broker and digital asset dealer. Therefore, the SEC Board views it
appropriate to add digital asset advisory service and digital asset fund
manager to the scope of digital asset business under supervision of the Digital
Asset Business Law, to ensure the SEC’s appropriate supervision of digital
asset businesses and prevent misuse of legal loopholes to offer services of
unregulated businesses, which may cause damage to, or inappropriate services
for, the public.
SEC will conduct a public hearing on the principles for supervising additional
digital asset businesses before proposing the Ministry of Finance to issue
ministerial regulations in due course.